Stock Market: Index to hover between 1,730-1,740

The FBMKLCI remained stuck in a consolidation mode as the index closed flat but today, experts expect it to be within 1,730-1,740.

“We noticed net foreign outflows persisted hence the stuttering index performance of late. On the brighter side, CPO price remains strong with the futures hovering close to the RM5,000/tonne level. For today, we expect the index to hover within the 1,730-1,740 range,” says Rakuten Trade.

Stock Market

Wall Street ended the week on a firmer note despite US long term yields remained elevated. The US 10-year yield edged higher at 4.736%.

In addition to this, crude oil prices also climbed higher with the Brent closing in on USD95/barrel mark. Over in Hong Kong, the HSI surged above the 26,000 thresholds underpinned by decent economic data and corporate earnings.

Meanwhile, the benchmark index expanded to 95 constituents with the inclusion of Hua Hong Semiconductor and Weichai Power.

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